Living in a ‘material’ world: off-the-plan purchasers score convincing win over apartment developer in s 9AC(2) case
A decision of the Victorian Supreme Court[1] handed down on 9 August 2021 has highlighted the rights of off-the-plan purchasers to rescind contracts pursuant to s 9AC(2) of the Sale of Land Act 1962 (Act) when changes are made to the proposed plan of subdivision after [...]
The Financial Planning Industry – A Changing Landscape
In our Commercial Update of 14 August last year (Sale or purchase of financial planning practices) we commented on the significant volatility and turmoil which the financial planning industry had experienced in the preceding several years. That included, amongst other things, the Royal Commission and [...]
Your builder gives you a quote, but no written building contract, and you agree to proceed. Where do you stand?
It’s surprisingly common for home owners to engage builders to undertake domestic building works without that arrangement being supported by a written building contract. Sometimes the only documentary support is a written quotation, which may not be compliant. Home owners may be tempted to agree [...]
Heard it through the grapevine: Facebook defamation suit between congregation members leads to >$200,000 judgment
A string of recent, high profile defamation decisions, for example those involving actors Rebel Wilson and Geoffrey Rush, have shown that Courts are prepared to award significant damages to successful complainants. But it is important to remember that defamation disputes are not exclusively between celebrities [...]
Don’t Pay Twice! Business Email Compromise
If you pay a debt to the wrong account because of a fraud you could well be required to pay twice. In the past three years losses due to business email compromise have risen from $3.8 million[1] to $132 million[2]. Typically such frauds take the form [...]
Sale or purchase of financial planning practices
The last couple of years has been a tumultuous period for the financial planning industry. We have seen the Hayne Royal Commission into Misconduct Superannuation and Financial Services industry and the handing downs of its findings. We have also seen AMP change the terms of its [...]
Misleading and Deceptive Conduct and Misrepresentations Induced Investments into Failed Companies: Investors Recover from Former Directors
In an application before the Federal Court, investors in a failed group of companies have recovered their lost money from the group’s former directors directly. The Court held that the directors’ misleading and deceptive conduct induced the investments and awarded damages in respect of the misrepresentations [...]
Ex-employees poaching clients and the misuse of an employer’s confidential information
In the wake of a recent decision by the Supreme Court of Victoria, employers are reminded that their clients are not automatically off-limits to ex-employees. Where clients transfer their business to former staff, employers must act quickly and decisively to enforce any applicable post-employment covenants [...]
Reminder of Relevant Principles in Applications for Extension of Time to Convene Creditors’ Meetings
Administrators often find themselves in a position where they need or desire further time to convene a second creditors’ meeting. The recent Federal Court case of Farnsworth v About Life Pty Limited (Administrator Appointed), in the matter of About Life Pty Limited (Administrator Appointed) [2019] [...]
Employer ordered to disgorge the total capital value of its business as a result of employees’ breach of duties they owed to their former employer
Employees owe certain duties to their employer known as fiduciary duties. These are, put broadly, the duty of loyalty and the duty not to profit. One who knowingly assists another to breach their fiduciary duties may also be held to account for gains made as [...]